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Southern Co (NYSE: SO) director awarded deferred and phantom stock units

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

EARLEY ANTHONY F JR reported acquisition or exercise transactions in this Form 4 filing.

Southern Company director Anthony F. Earley Jr. received routine quarterly compensation in the form of deferred and phantom stock units. He was granted 464.2047 deferred stock units and 297.8647 phantom stock units on April 1, 2026 under the Southern Company 2021 Equity and Incentive Compensation Plan and the Deferred Compensation Plan for Outside Directors.

The deferred stock units each represent the right to receive one share of Southern Company common stock after his Board service ends, while the phantom stock units are settled in cash based on the value of one share. Following these awards, Earley holds 30,856.8400 deferred stock units and 629.0000 phantom stock units, reflecting compensation rather than open-market trading.

Positive

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Insights

Routine director compensation via deferred and phantom units; no open-market trading.

Director Anthony F. Earley Jr. received equity-linked compensation: 464.2047 deferred stock units and 297.8647 phantom stock units as part of his quarterly Board retainers. Both awards come from Southern Company’s equity and deferred compensation plans, not from market purchases.

The deferred stock units convert into common shares after his Board service ends, while phantom units pay out cash based on share value. No shares were bought or sold in the market, and these grants are typical non-executive director compensation rather than a signal of discretionary trading activity.

Insider EARLEY ANTHONY F JR
Role Director
Type Security Shares Price Value
Grant/Award Deferred Stock Units Holding 464.205 $96.94 $45K
Grant/Award Phantom Stock Units 297.865 $96.94 $29K
Holdings After Transaction: Deferred Stock Units Holding — 30,856.84 shares (Direct); Phantom Stock Units — 629 shares (Direct)
Footnotes (1)
  1. Represents quarterly director equity retainer paid under the Southern Company 2021 Equity and Incentive Compensation Plan and deferred pursuant to the Deferred Compensation Plan for Outside Directors of The Southern Company (Deferred Compensation Plan). Each deferred stock unit represents the right to receive one share of Southern Company common stock. Deferred stock units are settled in shares of Southern Company common stock on the date(s) following the termination of the reporting person's service on the Board as specified by the reporting person pursuant to the Deferred Compensation Plan. There is no exercise or expiration date. Includes additional deferred stock units acquired through the dividend reinvestment feature of the Deferred Compensation Plan. Represents quarterly director cash retainer paid under the Southern Company 2021 Equity and Incentive Compensation Plan and deferred pursuant to the Deferred Compensation Plan. Each phantom stock unit represents the right to receive the cash value of one share of Southern Company common stock. Phantom stock units are settled in cash on the date(s) following the termination of the reporting person's service on the Board as specified by the reporting person pursuant to the Deferred Compensation Plan.
Deferred stock units granted 464.2047 units Quarterly director equity retainer on April 1, 2026
Deferred stock units held after transaction 30,856.8400 units Total deferred stock units following April 1, 2026 award
Phantom stock units granted 297.8647 units Quarterly director cash retainer deferred on April 1, 2026
Phantom stock units held after transaction 629.0000 units Total phantom stock units following April 1, 2026 award
Reference price per unit $96.94 Transaction price per unit for both award types
Derivative transactions in filing 2 transactions Both coded A as grant/award acquisitions
Deferred stock units financial
"Represents quarterly director equity retainer paid under the Southern Company 2021 Equity and Incentive Compensation Plan and deferred pursuant to the Deferred Compensation Plan"
Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.
Phantom stock units financial
"Each phantom stock unit represents the right to receive the cash value of one share of Southern Company common stock."
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
Deferred Compensation Plan for Outside Directors financial
"deferred pursuant to the Deferred Compensation Plan for Outside Directors of The Southern Company"
Southern Company 2021 Equity and Incentive Compensation Plan financial
"paid under the Southern Company 2021 Equity and Incentive Compensation Plan and deferred pursuant to the Deferred Compensation Plan"
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
EARLEY ANTHONY F JR
(Last)(First)(Middle)
30 IVAN ALLEN JR. BLVD., NW
(Street)
ATLANTA GEORGIA 30308
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
SOUTHERN CO [ SO ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Deferred Stock Units Holding(1)$004/01/2026A464.2047 (2) (2)Southern Company Common Stock464.2047$96.9430,856.84(3)D
Phantom Stock Units(4)$004/01/2026A297.8647 (5) (5)Southern Company Common Stock297.8647$96.94629D
Explanation of Responses:
1. Represents quarterly director equity retainer paid under the Southern Company 2021 Equity and Incentive Compensation Plan and deferred pursuant to the Deferred Compensation Plan for Outside Directors of The Southern Company (Deferred Compensation Plan). Each deferred stock unit represents the right to receive one share of Southern Company common stock.
2. Deferred stock units are settled in shares of Southern Company common stock on the date(s) following the termination of the reporting person's service on the Board as specified by the reporting person pursuant to the Deferred Compensation Plan. There is no exercise or expiration date.
3. Includes additional deferred stock units acquired through the dividend reinvestment feature of the Deferred Compensation Plan.
4. Represents quarterly director cash retainer paid under the Southern Company 2021 Equity and Incentive Compensation Plan and deferred pursuant to the Deferred Compensation Plan. Each phantom stock unit represents the right to receive the cash value of one share of Southern Company common stock.
5. Phantom stock units are settled in cash on the date(s) following the termination of the reporting person's service on the Board as specified by the reporting person pursuant to the Deferred Compensation Plan.
/s/ Brittney Anderson, Attorney-in-Fact for Anthony F. Earley, Jr.04/02/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Southern Co (SO) director Anthony F. Earley Jr. receive in this Form 4?

He received 464.2047 deferred stock units and 297.8647 phantom stock units as quarterly director retainers. These awards come from Southern Company’s equity and deferred compensation plans and represent routine, compensation-related grants rather than open-market trades.

How are the deferred stock units for Southern Co (SO) settled?

Each deferred stock unit represents the right to receive one share of Southern Company common stock. They are settled in shares after the director’s Board service ends, on dates the director elected under the company’s Deferred Compensation Plan for Outside Directors.

What are the phantom stock units reported by Southern Co (SO) for Anthony F. Earley Jr.?

The phantom stock units are based on the value of one Southern Company share each but are settled in cash. They arise from deferring the quarterly cash retainer under the company’s plans, not from buying or selling stock in the open market.

Did Anthony F. Earley Jr. buy or sell Southern Co (SO) shares in this filing?

No. The Form 4 shows grant/award acquisitions of deferred and phantom stock units, not open-market purchases or sales. The transactions reflect routine director compensation under company plans rather than discretionary trading activity in Southern Company common stock.

What are Anthony F. Earley Jr.’s holdings after these Southern Co (SO) awards?

After the reported awards, he holds 30,856.8400 deferred stock units and 629.0000 phantom stock units. The deferred units will be settled in Southern Company common stock, while phantom units will be paid in cash, both generally after Board service ends.

What price per unit is shown for the Southern Co (SO) director awards?

Both the deferred stock units and phantom stock units use a reference price of $96.94 per unit. This price is used to value the quarterly equity and cash retainers that are deferred into these unit awards under the company’s compensation plans.